March 3, 2008 / 12:06 PM / in 10 years

Buffett says: "We're in a recession": CNBC

NEW YORK (Reuters) - Warren Buffett, chief executive of Berkshire Hathaway Inc (BRKa.N) (BRKb.N), said on Monday that “from a common sense standpoint right now, we’re in a recession.”

Speaking on CNBC, Buffett said the United States might not be in a recession from a technical standpoint, but based on what he sees from the businesses Berkshire Hathaway manages, the economy is contracting.

Reporting by Dan Wilchins; Editing by Lisa Von Ahn

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